DICK’S Sporting Goods (NYSE:DKS) Upgraded to Buy at Bank of America

Bank of America upgraded shares of DICK’S Sporting Goods (NYSE:DKSFree Report) from a neutral rating to a buy rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. They currently have $240.00 target price on the sporting goods retailer’s stock, up from their prior target price of $225.00.

DKS has been the subject of several other reports. Truist Financial lifted their price objective on DICK’S Sporting Goods from $201.00 to $243.00 and gave the company a buy rating in a report on Friday, March 15th. Morgan Stanley upped their price target on shares of DICK’S Sporting Goods from $160.00 to $235.00 and gave the stock an overweight rating in a research report on Friday, March 15th. Barclays cut their price objective on shares of DICK’S Sporting Goods from $239.00 to $231.00 and set an overweight rating on the stock in a report on Monday, May 13th. Wells Fargo & Company increased their target price on DICK’S Sporting Goods from $175.00 to $210.00 and gave the company an equal weight rating in a research report on Friday, March 15th. Finally, Gordon Haskett boosted their price target on DICK’S Sporting Goods from $190.00 to $260.00 and gave the stock a buy rating in a research report on Monday, April 8th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $216.36.

Check Out Our Latest Stock Analysis on DKS

DICK’S Sporting Goods Trading Up 15.9 %

Shares of DKS opened at $225.92 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.78 and a quick ratio of 0.74. The firm has a market capitalization of $18.63 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.32 and a beta of 1.61. The company has a 50-day moving average of $204.15 and a 200 day moving average of $170.86. DICK’S Sporting Goods has a 1-year low of $100.98 and a 1-year high of $229.56.

DICK’S Sporting Goods (NYSE:DKSGet Free Report) last announced its quarterly earnings results on Thursday, March 14th. The sporting goods retailer reported $3.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.35 by $0.50. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. DICK’S Sporting Goods had a return on equity of 42.99% and a net margin of 8.06%. DICK’S Sporting Goods’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 earnings per share. On average, research analysts expect that DICK’S Sporting Goods will post 13.26 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $1.10 per share. The ex-dividend date was Wednesday, March 27th. This represents a $4.40 dividend on an annualized basis and a yield of 1.95%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.00. DICK’S Sporting Goods’s payout ratio is currently 36.12%.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, major shareholder William Colombo Trustee U/A Dt bought 40,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $213.93 per share, with a total value of $8,557,200.00. Following the completion of the acquisition, the insider now directly owns 8,818,615 shares of the company’s stock, valued at approximately $1,886,566,306.95. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other DICK’S Sporting Goods news, major shareholder William Colombo Trustee U/A Dt bought 40,000 shares of DICK’S Sporting Goods stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $213.93 per share, with a total value of $8,557,200.00. Following the completion of the acquisition, the insider now directly owns 8,818,615 shares in the company, valued at approximately $1,886,566,306.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lauren R. Hobart sold 40,167 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $223.95, for a total transaction of $8,995,399.65. Following the transaction, the chief executive officer now owns 280,136 shares of the company’s stock, valued at $62,736,457.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,763 shares of company stock worth $46,483,438. 32.03% of the stock is currently owned by insiders.

Institutional Trading of DICK’S Sporting Goods

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its position in DICK’S Sporting Goods by 3.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 4,853 shares of the sporting goods retailer’s stock worth $527,000 after purchasing an additional 162 shares in the last quarter. Sigma Planning Corp boosted its holdings in DICK’S Sporting Goods by 28.4% during the third quarter. Sigma Planning Corp now owns 2,173 shares of the sporting goods retailer’s stock worth $236,000 after buying an additional 481 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in DICK’S Sporting Goods by 14.2% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,227 shares of the sporting goods retailer’s stock valued at $3,282,000 after buying an additional 3,758 shares during the period. Arizona State Retirement System increased its holdings in DICK’S Sporting Goods by 1.0% in the third quarter. Arizona State Retirement System now owns 17,095 shares of the sporting goods retailer’s stock valued at $1,856,000 after buying an additional 162 shares in the last quarter. Finally, South Dakota Investment Council acquired a new position in shares of DICK’S Sporting Goods in the third quarter worth about $2,300,000. 89.83% of the stock is owned by institutional investors and hedge funds.

About DICK’S Sporting Goods

(Get Free Report)

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.

Featured Articles

Analyst Recommendations for DICK'S Sporting Goods (NYSE:DKS)

Receive News & Ratings for DICK'S Sporting Goods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DICK'S Sporting Goods and related companies with MarketBeat.com's FREE daily email newsletter.